The global CMO/CDMO market is set for a period of robust growth, with market size expected to reach USD 39.4 billion by 2033. This marks a significant leap from USD 22.5 billion in 2023, demonstrating a Compound Annual Growth Rate (CAGR) of 5.7% over the next decade.
A recent industry analysis reveals that this growth is largely driven by the increasing trend of pharmaceutical companies outsourcing essential services. As the pharmaceutical industry shifts its focus to more efficient operations, CMOs and CDMOs are becoming crucial players in the value chain, offering specialized services that allow these companies to focus on innovation and their core competencies.
FMI, a key player in the CMO/CDMO space, is perfectly positioned to seize this market opportunity. With a strong foundation in innovation and an unwavering commitment to excellence, FMI is poised to drive advancements in the pharmaceutical sector by providing top-tier solutions that meet the evolving needs of its clients.
“The growing demand for outsourcing in the pharmaceutical industry offers us a unique opportunity to expand our services and reinforce our leadership in the CMO/CDMO market,” said an FMI representative. “We are committed to leveraging our extensive expertise and cutting-edge capabilities to support the pharmaceutical sector and its future advancements.”
As the pharmaceutical industry continues to evolve, the role of CMOs and CDMOs will only become more critical. With its strategic positioning and forward-thinking approach, FMI is ready to stay ahead in this dynamic market, equipped to meet both the challenges and opportunities that lie ahead.
Key Takeaways:
- The global CMO/CDMO market grew at a CAGR of 5.3% over the historical period.
- The Indian market is expected to expand at a CAGR of 5% in the coming decades.
- In 2022, North America held more than 17.6% of the global revenue share.
- The Chinese market is expected to grow at a CAGR of 5% over the next few decades.
- In 2022, the contract manufacturing segment held 69.28% of the market share.
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Competitive Landscape:
The CMO/CDMO market is characterized by a consolidated vendor landscape, with ongoing research and development remaining a key strategy among market players. Strategic collaborations are also a common approach used to gain a competitive advantage.
- In July 2022, Societal CDMO and Lannett Firm revised their authorization and distribution agreement for marketing Verapamil PM and Verelan SR products. Societal CDMO, specializing in the development and production of small molecules, is expected to see both immediate and long-term price increases in development, in conjunction with a ten percent increase in the revenue share from Verapamil PM sales.
- In June 2022, MilliporeSigma, the U.S. and Canada Life Science enterprise of Merck KGaA, doubled its capacity for producing high-potent active pharmaceutical ingredients (HPAPI) with the establishment of a new facility in Verona, near Madison, WI. The USD 65 million, 70,000-square-foot facility will employ 50 individuals in the community.
Key Companies Profiled:
- Swiss American CDMO
- Pierre Fabre Group
- Zymo Cosmetics
- Fareva, Biofarma Srl C.F
- Chemineau, C.O.C.
- Farmaceutici Srl
- Paragon Nordic Cosmetic Solutions
- Kolma
- Lonza
- Cho Chuang Industrial Co., Ltd.
- Vive Cosmetics
- Ori BioNature Sdn Bhd
- Zoic Cosmetics
- Samriddhi Life Sciences
- Natrocare
Key Segments Profiled in the CMO/CDMO Market Report:
By Service:
- Contract Development
- Formulation development
- Pilot studies
- Contract Manufacturing
- Bulk preparation & scale-up
- Safety Testing
- Filling & Packaging
- Close jars
- Bottles
- Tubes
- Roll-ons
- Others
By Product:
- Hair Products
- Skin Products
- Lip Products
- Eye Products
- Body Hygiene
- Oral Hygiene
By Form:
- Solid Form & Powder
- Lotions
- Creams
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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